We present the spectral analysis of an early XMM-Newton observation of the
luminous Seyfert 1 galaxy Mrk 509. We find the hard (2-10 keV) continuum sl
ope, including reflection, to be somewhat flatter (Gamma = 1.75) than that
of a typical broad-line Seyfert 1 galaxy. The most obvious feature in the h
ard X-ray spectrum is a narrow emission line near 6.4 keV with an equivalen
t width of similar to 50 eV. The energy and strength of this line is consis
tent with fluorescence from "neutral" iron in the molecular torus, and we n
ote the emerging ubiquity of this feature in XMM-Newton and Chandra observa
tions of Seyfert 1 galaxies over a wide luminosity range. We also find evid
ence for a second emission line at 6.7-6.9 keV, which we attempt to model b
y reflection from a highly ionized disk. A "soft excess," evident as an upw
ard curvature in the continuum flux below similar to 1.5 keV, cannot be exp
lained solely by enhanced reflection from the ionized disk. The RGS spectru
m shows only weak discrete emission and absorption features in the soft X-r
ay spectrum, supporting our conclusion that the soft excess emission in Mrk
509 represents the high-energy portion of optically thick, thermal emissio
n from the inner accretion disk.